Telecom operator, Tigo Ghana has paid its 6000th claim on its insurance products, Tigo Family Care Insurance and Tigo Hospital Support. This payment means that the company has paid out over GHS 4.5 million to customers since the launch of these products in 2010. Tigo boasts over 1.5 million registered customers in Ghana.
Since its inception in 2010, Tigo Insurance has provided low- and middle-income Ghanaians insurance at an affordable rate through the use of their mobile phones. For as little as 10Gp or 7Gp per day, customers can earn life insurance or hospitalization insurance. Tigo pays over 300 claims every month, and valid claims are paid within 72 hours of complete documents being submitted.
“We are extremely proud to pay our 6000th claimant and reach this incredible milestone. Our goal has been to provide a platform for people who have never before had insurance to gain access to this powerful financial product at an affordable rate. Working with Tigo has allowed us to reach this amazing scale.” said Russell Haresign, the Country Manager for BIMA, leading provider of microinsurance and chosen partner of Tigo Insurance.
He noted that Tigo Insurance has changed the country’s insurance landscape, uniquely designing products for the informal market, and now provides coverage to over 1.5 million Ghanaians nationwide.
“I lost my father through illness and as his insured relative I was paid within 72 hours of submitting my documents,” said a beneficiary, Abigail Adobea Osew.
The 22-year-old student Ms. Adobea Osew, added: “I’m grateful to Tigo Insurance for doing me a lot of good at this difficult stage of my life. I used part of the money to pay my extra tuition fees. I encourage everyone to sign up.”
Tigo Insurance policies are underwritten by Prudential Life and distributed by BIMA.